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Old 08-25-2015, 10:57 AM
 
12 posts, read 14,609 times
Reputation: 17

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Get a secured card like others have said. Credit is like fine wine. You have to let it age.
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Old 08-25-2015, 11:48 AM
 
Location: Shady Drifter
2,444 posts, read 2,765,120 times
Reputation: 4118
OP won't pay 15% interest on a car note with 50% down on a reasonably priced car.
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Old 08-25-2015, 06:26 PM
 
218 posts, read 337,168 times
Reputation: 120
Do not worry - I have couple of my colleagues get approved for loan on basis of their salary.
The rate might be a bit higher but you will get a loan.
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Old 08-25-2015, 08:07 PM
 
16 posts, read 13,539 times
Reputation: 10
Thanks Everyone. I had taken a note of all the valuable inputs.
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Old 08-25-2015, 08:56 PM
 
162 posts, read 195,120 times
Reputation: 104
The $50K cash in your bank account won't matter, you need to put down some bigger down payment for the car. $30K car $10K down, and $20K you will get financed at a much higher rate then the going rate. Friend of my got a loan at 6.5% with no credit, but proved it he has a job here. Hope this helps.
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Old 08-25-2015, 09:17 PM
 
8,151 posts, read 3,678,584 times
Reputation: 2719
With no credit history, even with a huge downpayment the rate can be very high, 15% or even more. They put way too much weight on the history. My advice to the OP would be, try see what you get, if ridiculous, buy the car in cash, and do the secured credit card others suggested.
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